The Swiss industrial giant ABB decided to abandon all its activities in Russia due to the war in Ukraine and the effects of Western sanctions imposed on Moscow.
The company said today, Thursday, that it has decided to completely withdraw from the Russian market in an ongoing process that costs about 57 million dollars with its completion during the second quarter of this year, adding that 23 million dollars of these expenses will appear in the results of the third quarter of the year.
The company, which makes robotic systems used in factories, electric car charging stations and automated solutions, has not accepted any new orders from Russia since the start of the Russian invasion of Ukraine in late February, according to the company.
At the same time, it confirmed the fulfillment of its few existing obligations to customers in Russia within the framework of Western sanctions.
Most of ABB's employees in Russia had already been on vacation since last March, with about 750 employees working at two production sites in the Moscow and Lepstek regions as well as several service centers.
This article was published on the Arab Turbo website